International Tower Hill Mines (NYSE:THM) Shares Down 7.3% – Time to Sell?

International Tower Hill Mines Ltd. (NYSE:THM) dropped 7.3% on Thursday . The company traded as low as $3.04 and last traded at $3.07. Approximately 624,865 shares traded hands during trading, a decline of 72% from the average daily volume of 2,208,831 shares. The stock had previously closed at $3.31.

International Tower Hill Mines Stock Performance

The company has a market cap of $634.05 million, a P/E ratio of -152.50 and a beta of 0.68. The stock has a 50-day moving average of $2.55 and a two-hundred day moving average of $2.02.

Insider Buying and Selling at International Tower Hill Mines

In related news, major shareholder Paulson & Co. Inc. acquired 1,501,982 shares of International Tower Hill Mines stock in a transaction dated Thursday, January 29th. The shares were purchased at an average cost of $2.22 per share, with a total value of $3,334,400.04. Following the completion of the purchase, the insider owned 99,573,038 shares of the company’s stock, valued at $221,052,144.36. This represents a 1.53% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Global Holdings L.P. Electrum acquired 3,153,153 shares of the firm’s stock in a transaction dated Tuesday, January 27th. The stock was bought at an average price of $2.22 per share, for a total transaction of $6,999,999.66. Following the acquisition, the insider owned 3,153,153 shares of the company’s stock, valued at approximately $6,999,999.66. This trade represents a ? increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders acquired 32,486,803 shares of company stock valued at $72,120,703 over the last three months. 2.48% of the stock is currently owned by insiders.

Institutional Investors Weigh In On International Tower Hill Mines

A number of hedge funds and other institutional investors have recently modified their holdings of THM. Ketron Financial bought a new position in International Tower Hill Mines during the 4th quarter worth approximately $28,000. Marshall Wace LLP bought a new stake in International Tower Hill Mines in the second quarter valued at approximately $32,000. Tudor Investment Corp ET AL bought a new stake in International Tower Hill Mines in the fourth quarter valued at approximately $41,000. XTX Topco Ltd boosted its stake in shares of International Tower Hill Mines by 97.7% during the second quarter. XTX Topco Ltd now owns 59,074 shares of the company’s stock valued at $51,000 after purchasing an additional 29,186 shares during the period. Finally, StoneX Group Inc. boosted its stake in shares of International Tower Hill Mines by 43.3% during the fourth quarter. StoneX Group Inc. now owns 27,389 shares of the company’s stock valued at $51,000 after purchasing an additional 8,281 shares during the period. Institutional investors own 54.63% of the company’s stock.

About International Tower Hill Mines

International Tower Hill Mines Ltd. (NYSE American: THM) is a mineral exploration and development company focused on advancing its flagship Livengood gold project in Alaska, United States. Headquartered in Vancouver, Canada, the company’s primary business activity is the exploration, permitting and feasibility study of the Livengood deposit, which hosts a large-scale, low?sulfidation gold system. Through systematic drilling programs and resource modeling, International Tower Hill Mines aims to define and expand gold resources while advancing environmental and engineering studies toward a potential mining operation.

The Livengood project, situated approximately 70 miles northwest of Fairbanks, Alaska, has been the focal point of International Tower Hill Mines’ efforts since acquiring the property in 2011.